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First Home Owner Grant : Australia Northern Territory Department of Treasury & Finance

Name of the Organization : Northern Territory Department of Treasury & Finance
Type of Facility : First Home Owner Grant
Country : Australia

Website : https://treasury.nt.gov.au/

First Home Owner Grant:

The FHOG scheme was introduced on 1 July 2000 to assist first home buyers in the Northern Territory. To encourage the construction of new homes in the Territory, from 1 January 2015, FHOG will only be available to first home buyers who enter into a contract to construct or purchase a new home, or commence construction of a new home, on or after that date.

Related : Australia Northern Territory Department of Finance Register For Payroll Tax : www.statusin.org/7019.html

FHOG is not means tested however, home purchase price thresholds may apply. Where the commencement date of the eligible transaction is between 1 January 2010 and 12 May 2014, to remain eligible the consideration for, or the value of the home must be under the transaction eligibility threshold (see table below). This includes the unencumbered value of the land on which a home is to be built.

Where the commencement date of the eligible transaction is on or after 13 May 2014, the transaction eligibility threshold does not apply to the construction or purchase of a new home but continues to apply to the purchase of an established home.

An established home is one that has been previously sold or occupied, and is lawfully fit for occupation.

An urban area means all land located wholly within the boundaries of:
** the Darwin, Palmerston or Litchfield municipalities;
** Wagait Shire;
** the Darwin Waterfront Precinct;
** the “prescribed area” for the Darwin Rates Act (or, from 1 July 2014, the prescribed Area A described in the Schedule to the Northern Territory Rates Regulations); and
** any other area prescribed by regulation.

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Eligibility Criteria First Home Owner Grant:
Each person who owns a part of the home must be an applicant.
This includes anyone who is or will be on the title of the property with you. If you have a spouse or de facto partner (includes same sex partners) who will not own any part of the home, you must include them on the application as a non-applicant spouse. All applicants must meet the eligibility criteria.

You may be eligible for the grant if:
You are:
** at least 18 years of age (or a joint applicant with someone who is)
** not a company or a person acting as a trustee (unless appointed as guardian for a person with a legal disability)
** an Australian citizen or a permanent resident (or a joint applicant with someone who is)

You and your spouse have:
** never been paid and have retained the first home owner grant from any State or Territory of Australia.
** not owned residential property in Australia prior to 1 July 2000.
** not occupied a residential property in Australia that was owned by you or your spouse on or after 1 July 2000.

You:
** are purchasing or building a home and the consideration for, or the value of the home is not more than transaction eligibility threshold (if applicable). Further information on the transaction eligibility threshold is available on the FHOG page?. ?
** will move into the home within one year of purchase or, if constructing a new home, within one year of completing construction.
** will live in the home for 6 months continuously as your principal place of residence.

Exemptions:

TRO may approve the grant in special circumstances if:
** all applicants are under 18 years of age
** you move into the home after one year
** live in the home for less than 6 months
**** not all of the applicants can move into home
** you are separated from your spouse and their prior or current interests render you ineligible for the grant

FHOG Eligibility Test:
To find out whether or not you may be eligible for the First Home Owner Grant, please answer the following questions. Please note that a ‘de facto partner’ includes a same sex partner.

Check Eligibility : https://treasury.nt.gov.au/

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